A study from the Kenan-Flagler Business School gives us extensive insight about millennials along with some analysis by Matt Miller, a Forbes contributor (“Why You Should Be Hiring Millennials [Infographic]” 7/3/12). The study summarizes three fundamentals to keeping your millennials engaged:
1—Flatter Them. Most millennials (80%) want recognition and feedback in real time as opposed to an annual performance review. Additionally, they enjoy frequent pulse checks. They genuinely want to know how they are performing and what they can do to improve. Meaningful compliments for work well done will go a long way with millennials.
2—Motivate Them. A combination of structured assignments, lots of feedback, and growth opportunities tend to motivate millennials. They also do better in environments that are comfortable, friendly, and inspire everyone to contribute. A good idea is to ask periodically, how can we make it more fun to come to work?
3—Collaborate With Them. Collaboration comes naturally for millennials. They understand how important teamwork is and they enjoy being contributors. Just ensure everyone is on the same page with business needs, boundaries, and deadlines.
By now, perhaps you would agree with me—millennial or not, these keys aid retention with any demographic group. Let’s put them into action!